What Is Going On With Crypto Today?

Cryptocurrencies have experienced monumental price moves over the past few months. We all know that bitcoin has seen its prices skyrocket to an enormous $20,000+ per coin, but even more dramatic rises were witnessed by other cryptocurrencies like ethereum and ripple. What’s causing this crazy movement? Why are these coins increasing their value so rapidly? It is hard to say at this point in time, but what we can do is take a step back and consider why it seems like general market conditions are favorable for rapid growth of tokens versus stocks or traditional investments. The fact that cryptocurrency exchanges are experiencing increasing demand shows that there exists a strong base of consumers who want to use decentralized currency services.

We’ve recently seen significant growth in blockchain projects like IOTA (which now lets you buy coffee via your phone), Colu (that has managed to raise $22 million within 2 weeks) and many others which demonstrate how people see value in using blockchains as payment platforms or transfer links. Early adoption aside, numerous companies out there already using crypto-related technology include Shopify (influential e-commerce platform), Coinbase (major US exchange), Binance (largest cryptocurrency exchange) and many more. There exists clear anticipation among developers around the world that smart contracts will be used to improve their businesses with Blockchain technology – at least according to the number of ICOs taking place lately. Businesses which plan on incorporating smart contracts into existing systems remain optimistic about their prospects for growth due to the positive